Masdar display booth at the World Future Energy Summit at the Abu Dhabi National Exhibition Center. Christopher Pike / The National
Masdar display booth at the World Future Energy Summit at the Abu Dhabi National Exhibition Center. Christopher Pike / The National

Linking up with partners is key to building a knowledge economy



Collaborations between private, public and academic organisations bolster the development of technology-based innovations. They are the foundation of the knowledge economy. That is why the Masdar Institute of Science and Technology is involved in cross-sector collaborations, the most notable of which is with the Massachusetts Institute of Technology.

As the Masdar Institute’s core academic partner, MIT has established robust research activity, including nine active flagship research projects. These projects bring together faculty teams from both institutes to address key strategic research areas. The intention is to build critical mass and have a sizeable research impact, which would help to establish the UAE as a leader in research, while developing capacity and expertise.

These projects have generated knowledge and innovations with wide-ranging applications in renewable energy, water, health and technology. All of these are priority sectors targeted by the UAE National Innovation Strategy. Launched in October, the National Innovation Strategy is an ambitious initiative that seeks to stimulate innovation across seven priority sectors in order to achieve UAE Vision 2021, and aims to make the UAE the most innovative nation in the world by 2021.

A few notable technology-based innovations produced by the flagship research projects include the development of high-efficiency multiple-junction solar cells, combined solar power and thermal energy storage, efficient water purification membrane technology and a detailed model of climate variability in the UAE. The Masdar Institute team was led by Dr Hassan Arafat, associate professor of water and environmental engineering. It managed to design, and develop membranes for water treatment with better permeability and excellent mechanical strength. It used novel fabrication methods, which can be scaled up to cover large areas.

Another project investigated ways to increase the efficiency of solar cells and produced results that may ultimately have a positive impact on the UAE’s solar power industry.

The project aims to produce solar photovoltaic technology that can capture different portions of the solar spectrum and achieve efficiency as high as 50 per cent.

Led at Masdar Institute by Dr Ammar Nayfeh, associate professor of electrical engineering and computer science, the team recorded results that suggest that efficient solar cells can be developed with the potential to greatly affect the solar industry if produced on a larger scale.

Organised at Masdar Institute by Dr Taha Ouarda, professor of water and environmental engineering and head of the Institute Centre for Water and Environment, a team also developed a hydro-climate model that is the first of its kind in the UAE. It models the inter-annual variability – or variability from one year to the next – of hydro-climate variables, including precipitation, temperature, soil moisture and solar Irradiation.

This information can be used in many different fields, including agriculture, water management and health. Climate variability impacts not only the UAE’s precious water resources, but also human health and agricultural production.

All nine projects established over the past two and a half years are currently active, but the above mentioned projects conclude this year. While these projects have produced knowledge and innovations of significant value to the UAE, more research is required in these fields. Therefore, new projects will be developed from the excellent results obtained so far.

The progress of the active projects will be presented at the forthcoming Masdar Institute and MIT Collaborative Research Conference, which is taking place at a time when research and innovation are at the top of the UAE’s agenda.

In many ways, the flagship projects serve as a springboard for new ones that build on the results obtained and ensure that the efforts invested have maximum near and long-term benefits. We believe that our projects are generating knowledge and technology in the key sectors targeted by the National Innovation Strategy.

Thus, we look forward to continuing such collaborations with MIT as well as other local and international partners.

Dr Steve Griffiths is executive director of the Office of Institute Initiatives at Masdar Institute of Science and Technology, Abu Dhabi

RESULT

Argentina 0 Croatia 3
Croatia: 
Rebic (53'), Modric (80'), Rakitic (90' 1)

CHINESE GRAND PRIX STARTING GRID

1st row 
Sebastian Vettel (Ferrari)
Kimi Raikkonen (Ferrari)

2nd row 
Valtteri Bottas (Mercedes-GP)
Lewis Hamilton (Mercedes-GP)

3rd row 
Max Verstappen (Red Bull Racing)
Daniel Ricciardo (Red Bull Racing)

4th row 
Nico Hulkenberg (Renault)
Sergio Perez (Force India)

5th row 
Carlos Sainz Jr (Renault)
Romain Grosjean (Haas)

6th row 
Kevin Magnussen (Haas)
Esteban Ocon (Force India)

7th row 
Fernando Alonso (McLaren)
Stoffel Vandoorne (McLaren)

8th row 
Brendon Hartley (Toro Rosso)
Sergey Sirotkin (Williams)

9th row 
Pierre Gasly (Toro Rosso)
Lance Stroll (Williams)

10th row 
Charles Leclerc (Sauber)
arcus Ericsson (Sauber)

England squad

Moeen Ali, James Anderson, Jofra Archer, Jonny Bairstow, Dominic Bess, James Bracey, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Ben Foakes, Lewis Gregory, Keaton Jennings, Dan Lawrence, Jack Leach, Saqib Mahmood, Craig Overton, Jamie Overton, Matthew Parkinson, Ollie Pope, Ollie Robinson, Joe Root, Dom Sibley, Ben Stokes, Olly Stone, Amar Virdi, Chris Woakes, Mark Wood

Drivers’ championship standings after Singapore:

1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

Biog

Age: 50

Known as the UAE’s strongest man

Favourite dish: “Everything and sea food”

Hobbies: Drawing, basketball and poetry

Favourite car: Any classic car

Favourite superhero: The Hulk original

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

Scores

Day 2

New Zealand 153 & 56-1
Pakistan 227

New Zealand trail by 18 runs with nine wickets remaining

West Indies v India - Third ODI

India 251-4 (50 overs)
Dhoni (78*), Rahane (72), Jadhav (40)
Cummins (2-56), Bishoo (1-38)
West Indies 158 (38.1 overs)
Mohammed (40), Powell (30), Hope (24)
Ashwin (3-28), Yadav (3-41), Pandya (2-32)

India won by 93 runs

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

SPEC%20SHEET%3A%20APPLE%20IPAD%20(2022)
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England 12-man squad for second Test

v West Indies which starts Thursday: Rory Burns, Joe Denly, Jonny Bairstow, Joe Root (captain), Jos Buttler, Ben Stokes, Moeen Ali, Ben Foakes, Sam Curran, Stuart Broad, Jimmy Anderson, Jack Leach

Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5